Bank of Greece – Travel balance: Surplus in June at 2,416.1 million euros

According to provisional data, available to the Bank of Greece, the balance of travel services in June 2022 showed a surplus of €2,416.1 million, compared with a surplus of €705.5 million in June 2021. More specifically, travel receipts in June 2022 rose by 224.5% to €2,617.6 million, from €806.7 million in June 2021, while travel payments also increased by 99.1% (June 2022: €201.5 million, June 2021: €101.2 million). The rise in travel receipts was due to a 241.5% increase in inbound traveler flows, as average expenditure per trip declined by 5.7%. Net travel receipts offset 81.9% of the goods deficit and contributed 88.0% to total net receipts from services.

In January-June 2022, the balance of travel services showed a surplus of €4,191.9 million, up from a surplus of €868.6 million in the corresponding period of 2021. Travel receipts rose by €3,932.3 million or 329.3% to €5,126.3 million, while travel payments increased by €609.0 million or 187.2% to €934.4 million. The rise in travel receipts was due to a 360.8% increase in inbound traveller flows, as average expenditure per trip declined by 7.9%. Net travel receipts offset 23.4% of the goods deficit and contributed 67.6% to total net receipts from services.

Travel receipts

In June 2022, as mentioned previously, travel receipts rose by 224.5% year-on-year. In more detail, receipts from residents of EU27 countries increased by 179.5% to €1,566.4 million, while receipts from outside the EU27 rose by 321.8% (June 2022: €1,001.7 million, June 2021: 237.5 million). The rise in receipts from within the EU27 is attributed to increases of 184.9% in receipts from euro area residents (June 2022: €1,239.7 million, June 2021: €435.2 million) and of 160.8% in receipts from residents of non-euro area...